Saturday, March 9, 2019

Bill Would Give CUs Greater Flexibility in Setting Loan Maturities

Representatives Lee Zeldin (R-NY) and Vicente Gonzalez (D-TX) on March 8 introduced legislation (H.R. 1661) that would give the National Credit Union Administration greater flexibility in setting loan maturity limits under the Federal Credit Union Act.

The Federal Credit Union Act limits the maximum loan maturity on certain loans to 15-years.

The bill, if it becomes law, would give credit unions greater ability to grow.

At the time this blog was published, the bill's language was not available.
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